Gold on Track for Worst Quarter in Decades

Gold price continued to slide on Friday, hitting the lowest level in almost three years. Matt Day discusses. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... I ... he joins us right now to talk about this one on MoneyBeat so ... I Indians dancing around that twelve hundred more were alright but he fell under it ... through twenty big round numbers of people really take note only been plowing through motor thirteen Under fortune two hundred to ... fall in real quick ... it trades just on one to ... go in is that what is is this to become a net ... the dynamics of what's going on or necessarily knew what ... by existing decided take on a momentum over all of its own where it doesn't really matter what the Fed saying what the or re used and sort of unwinding becoming the main thing in the gold market right absolutely no was when gold was going on for so many years ... it was necessary that there is anything in a new high and that was ... just built on the sofa momentum to record heights ... but recently and datapoint eleven min out for the opposite ... people are sort of a sudden no one by one they wanted to trade ... the snow more moments more often ... now ... so I mean where can this go now it's funny cuz it was a very long ago ... everybody was so bullish on gold and gold in two thousand poll of twenty five hundred pounds contingent call him ... that is completely reversed into this thing on its own momentum for a look and this guy ... with the question openly of how much I can which mines start having a cutback record levels already here and you know under twelve twelve hundred women ... aam some some very large scale gold operations and it turned out to the tsunami commodities prices openly I couldn't ... because of a foreigner it but you know in the short term that's not to do much is openly matter of from ... technology there ... yet what people think the so the deal as funny mention them like doing them under the deal that is what happens is that at some point becomes ... less profitable even on problems ... for them to actually mining ... at ... that point yet right it is already a lot of minds idea on during the gold bull run is that so much more expensive to operate my labor costs one of the call to the sector to mimic around fell so there's some mines are arty improbable were to start seeing gold miners in a sort of what the plan is for a friend go for gold as price ... he did the Byzantine talkback a lot of what they said last week it's it's worked in the stock marker I read until today ... I've been working on stock markets on stock prices rise ... how much attention to the Fed all our gold traders pay so it's it's up so that you'll you'll get every every big move in Alaska for years in gold is almost always paid to on the testimony from Mr burn Anqi or or some other Fed ... Fed focused event are fed speculation that it's really been the driver your house or runaway openly down ...